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Arbitration Award Directing Transmission Of Shares Can Be ‘Enforced’ Through NCLT

In Cheran Propertiees Limited vs Kasturi And Sons Limited, A three-judge bench of the Supreme Court  has upheld proceedings for rectification of records before the National Company Law Tribunal (NCLT) by a claimant company whose claim was upheld by the arbitral tribunal directing transmission of shares.

The court dismissed an appeal wherein the main contention was that an arbitral award has to be enforced as a decree of a civil court in view of the provisions of Section 36 of the Arbitration and Conciliation Act and it could not have been enforced by pursuing proceedings before the NCLT.

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